Treasure of the Sierra Madre; The Sequel: A New-Stage Mexican Exploration Play

The latest offering on the Stockhouse DealRoom is a Toronto-based exploration-stage company, engaged in the acquisition, exploration, and development of mineral properties…primarily gold and silver.

Terreno Resources Corp. (TNO) (TSX-V.TNO.H, Forum) is publicly-listed company with experienced management and a thorough approach to a unique Mexican exploration project – the Las Cucharas Gold & Silver Project. The Company’s strategy has positioned TNO for aggressive exploration in the historic mining state of Nayarit MX.


About the Las Cucharas Project

Las Cucharas is an historic gold and silver mining region, with well documented small-scale production from 1903 through 1961 of approximately 3,000 kilograms of gold and 30,000 kilograms of silver. It is located in the southern extreme of the mid-Tertiary Sierra Madre Occidental (SMO) volcanic belt, which hosts many of Mexico’s most significant gold and silver deposits.


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The State of Nayarit in Mexico is home to several important producing mines, past producing mines, and well known mineralized districts. The Las Cucharas project area is a total of 4,447 hectares in size and is covered by 17 concessions.


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Significant underground workings have been developed at several different zones, including La Union, El Cardon, Los Gallos, Jocuixtle, La Italia, and La Raizura. These workings are often hundreds of metres in length and developed on several levels. Many of the remaining known showings have exploratory adits.

The Las Cucharas Project is classified as a volcanic-hosted low-sulfidation epithermal precious metal system with significant mineralization occurring along a six kilometre northwest-trending structural zone. Gold and silver are hosted in vein and shear structures, stockwork zones, and breccias. Classic low sulfidation textures are common, including banded quartz veins and breccias, as well as drusy, bladed, and chalcedonic quartz. Historical exploration work was carried out by Maverix Metals Inc – formerly MacMillan Minerals Inc. and the predecessor company MacMillan Gold Corp. – between 2003 through 2012. This work succeeded in identifying fourteen separate mineralized showings. Maverix carried out several phases of surface and underground geological mapping, rock and soil sampling, trenching, local geophysics, and drilled approximately 2,190 metres in 15 exploration diamond drill holes.


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Highlights of the Las Cucharas Gold & Silver Project:

• Focus on gold & silver exploration in Nayarit Mexico
• Experienced management and exploration team
• Las Cucharas Gold & Silver Project is located in the Sierra Madre Occidental (SMO) precious metal corridor
• Reported historical production of 3,000 kilograms of gold and 30,000 kilograms of silver (96,450 oz au, 964,500 oz ag)
• Mineralized zone with over six kilometres in strike length with significant indicator gold & silver drill results
• Surface grab samples ranging up to 18 g/t Au and 807 g/t Ag in the Nuevo Cucharas/La Taverna Zone.
• Underground channel samples ranging up to a weighted average of 3 g/t Au and 292 g/t Ag over 2 metre width and 71 metre strike length in the La Raizura underground working.
• Exploration drill holes tested several of the known mineralized zones, and all but three of the holes returned significant gold and silver values.
• Earn-in exploration expenditures of CDN$700,000 required by October 2021 of which over CDN$550,000 has been incurred.

Here’s the Deal:

In addition to being available via public exchange, TNO shares are currently available through private placement sale. The Company is offering up to 10,000,000 units of the Company (“Units”) at a price of $0.05 per Unit (the “Offering Price”). Each Unit is comprised of one (1) common share of the Company (a “Common Share”) and one (1) Common Share purchase warrant (a “Warrant”). Each whole Warrant will entitle the holder to purchase one (1) Common Share at a price of $0.07. Each warrant will be exercisable at $0.07 for a common share until the expiry date to be 12 months from the financing closing date. Insiders are subscribing for up to 20% of the private placement. The Company currently has 36,835,506 common shares issued and outstanding and there are currently no warrants outstanding.

The proceeds will be used for general working capital requirements to maintain a listed public company and to complete the earn in of a 60% interest in the Las Cucharas Gold & Silver Project in Nayarit, Mexico.


Private Placement Terms (Highlights):

• $0.05 per Unit
• Up to $500,000
• Proceeds from this financing will be used to explore the Company’s Las Cucharas Gold & Silver Project.
• The Common Shares will be listed on the NEX board of the TSXV under symbol TNO.H.
• The Common Shares will be offered by private placement only (and without the use of an offering memorandum as defined in OSC Rule 14-501).
• No prospectus will be filed with any securities regulatory authority to qualify the Common Shares for distribution to the public.
• Securities issued pursuant to the Offering shall be subject to a four-month hold period commencing on the Closing Date (as defined below) under applicable Canadian securities laws.

For experienced retail and institutional investors this opportunity equates to a “ground floor” opportunity.

Terreno Resources’ DealRoom financing provides access to a company with a well-positioned project, in a mining-friendly jurisdiction, operated by an experienced management team.

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FULL DISCLOSURE: Terreno Resources Corp. is a paid client ofStockhouse Publishing Ltd. (Stockhouse). Stockhouse is not registered as a broker, dealer, exempt market dealer, or any other registrant in any securities regulatory jurisdiction and will not be performing any registerable activity as defined by the applicable regulatory bodies. This deal room is for informational purposes only and does not constitute an offer to sell or a solicitation to buy the securities referred to herein. Offers to sell, or the solicitations of offers to buy, any security can only be made through official offering documents that contain important information about risks, fees, and expenses. The information contained in this deal room is selective and does not purport to contain all the information relating to Terreno Resources Corp. In all cases, parties should conduct their own investigation and due diligence, not rely solely on the data provided herein and are encouraged to consult with a financial adviser, lawyer, accountant, and any other professional that can help to understand and assess the risks associated with any investment opportunity.